Sunnova Energy International (NYSE:NOVA) Stock Rating Lowered by The Goldman Sachs Group

Sunnova Energy International (NYSE:NOVA) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $1.00 target price on the stock, down from their previous target price of $10.00. The Goldman Sachs Group’s price objective points to a potential upside of 83.15% from the stock’s current price.

A number of other brokerages have also recently weighed in on NOVA. Wolfe Research cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered Sunnova Energy International from an “overweight” rating to a “neutral” rating in a research note on Monday. Wells Fargo & Company lowered Sunnova Energy International from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $4.00 to $0.50 in a research note on Tuesday. BNP Paribas lowered Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price on the stock. in a research note on Friday, November 8th. Finally, Royal Bank of Canada downgraded Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.39.

Sunnova Energy International Stock Down 19.1 %

Shares of NOVA stock opened at $0.55 on Tuesday. Sunnova Energy International has a 12 month low of $0.47 and a 12 month high of $13.00. The firm has a market cap of $68.22 million, a PE ratio of -0.16 and a beta of 2.64. The stock has a 50 day moving average of $2.70 and a 200-day moving average of $5.49. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). The firm had revenue of $224.13 million for the quarter, compared to the consensus estimate of $235.85 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. During the same quarter in the prior year, the firm posted $0.37 earnings per share. On average, equities analysts predict that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Trading of Sunnova Energy International

A number of hedge funds have recently made changes to their positions in NOVA. Cibc World Markets Corp acquired a new stake in shares of Sunnova Energy International in the fourth quarter valued at approximately $35,000. Crux Wealth Advisors bought a new position in Sunnova Energy International during the 4th quarter worth $35,000. Two Sigma Advisers LP bought a new position in Sunnova Energy International during the 4th quarter worth $35,000. Integrated Wealth Concepts LLC bought a new position in shares of Sunnova Energy International in the 4th quarter valued at $40,000. Finally, Teza Capital Management LLC bought a new stake in Sunnova Energy International during the 4th quarter worth $48,000.

Sunnova Energy International Company Profile

Sunnova Energy International Inc engages in the provision of energy as a service in the United States. The company offers electricity, as well as offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and solar energy system and energy storage system diagnostics services.